We analyze a sample of 72 IPO firms that went public between 1992 and 1996 for which we have detailed proprietary information about the amount and cost of Damp;O liability insurance. If managers of IPO firms are exploiting superior inside information, we hypothesize that the amount of insurance...

Managers choose to spend corporate resources to purchase directors' and officers' liability insurance, which protects directors and officers from personal financial liability in lawsuits brought against the firm and its directors and officers. We investigate whether the amount of Damp;O...

Boards of directors occupy a prominent position in the governance of corporations, and have been a focal point of SEC efforts to ensure that investment companies are serving the interests of individual investors. We analyze whether board structure and director independence in closed-end...